SL Advisors LLC Takes Position in The Hershey Company (NYSE:HSY)

SL Advisors LLC purchased a new position in The Hershey Company (NYSE:HSY) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,746 shares of the company’s stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also modified their holdings of HSY. Brookstone Capital Management grew its holdings in Hershey by 5.7% in the third quarter. Brookstone Capital Management now owns 10,107 shares of the company’s stock valued at $1,938,000 after purchasing an additional 544 shares during the last quarter. City Holding Co. raised its stake in shares of Hershey by 42.4% during the 3rd quarter. City Holding Co. now owns 849 shares of the company’s stock worth $163,000 after buying an additional 253 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Hershey in the 3rd quarter worth about $235,000. Insight Wealth Strategies LLC grew its stake in Hershey by 94.0% in the 3rd quarter. Insight Wealth Strategies LLC now owns 20,704 shares of the company’s stock valued at $3,971,000 after acquiring an additional 10,034 shares during the last quarter. Finally, Bridge Creek Capital Management LLC increased its holdings in Hershey by 63.4% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 3,015 shares of the company’s stock valued at $578,000 after acquiring an additional 1,170 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Performance

Hershey stock opened at $187.60 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $211.92. The company has a market cap of $37.94 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37. The stock’s 50-day moving average is $196.32 and its 200-day moving average is $193.71.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the firm earned $2.01 earnings per share. The company’s quarterly revenue was down 16.7% on a year-over-year basis. Equities analysts anticipate that The Hershey Company will post 9.49 earnings per share for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were issued a $1.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 2.92%. Hershey’s dividend payout ratio is currently 54.31%.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at $6,531,729.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at $6,531,729.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HSY. Barclays reduced their price target on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Company reduced their target price on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. JPMorgan Chase & Co. upped their price objective on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Bank of America dropped their price objective on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $197.90.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.